Why SAP Business One is best suited for the Life Science Industry

Why SAP Business One is best suited for the Life Science Industry

Like any other, the life science vertical is getting into the rhythm of using technology to improve their efficiency. From pharmaceuticals, hospitals, biotech, cell biology, neuroscience, medical device, and many other industries fall under the gamut of life science. Over time, life science companies worldwide are reaching towards IT infrastructure to support the growing business value units, global supply chains, and, most importantly, the vast inventory of stock and produce. PwC says 89% of pharmaceutical and life science CEOs identified that technological advances are transforming their business. That said, it has become evident that the answer lies in deploying a robust enterprise resource planning (ERP) software. ERP software integrates various departments, including finance, logistics, supply chain, engineering, and technical support. The platform provides precise real-time data for better business planning and aids the management in the decision-making process. 

The life science industry’s ever-changing and dynamic conditions require a powerful yet affordable ERP system to create a stable business model. Several customer groups, including health systems, wholesalers, GPOs, and patients whose data needs to be stored and maintained. The highly regulated industry needs an integrated system that can help businesses adapt quickly to changes and respond faster to market demands. 

Understanding the industry’s demands and is focused on bridging the gap between front-office engagements and back-office processes to create a better business model. As a global market leader, SAP offers SAP Business One ERP solution for life science companies, including pharmaceutical, medical device and equipment, research, and testing companies. Leading healthcare and pharmaceutical companies worldwide are harnessing the power of SAP Business One to improve the efficiency of their business operations, improve employee productivity, and remain compliant with the regulations. Perfect for businesses, the software is equipped to manage complex data and compliance in:

  • Pharmaceutical production and distribution
  • Medical device and equipment manufacturing and distribution
  • Life sciences-related research and testing

Benefits of ERP in life science and hospitals 

  • Better supply chain and quality management 
  • Optimized inventory management and warehousing 
  • Delivering optimized and personalized customer experiences and service 
  • Enhancing digital customer and sales channels 

Some of the salient features of SAP Business one for Life Science 

  • Product management
  • Bill of materials
  • Product costing 
  • Batch control and traceability 
  • Quality control 
  • Production scheduling 

SAP Business One offers a variety of possibilities for businesses in the life science vertical, including 

  • Secure data-sharing platform controlled and owned directly by patients
  • ISO standards-based data model for easy identification of medicinal products 
  • SAP Predictive maintenance and service to support automated device onboarding 
  • Extended warehouse management and global batch traceability 

Ikyam Solutions is a leading ERP solutions provider for brands across South India. Started in 2014, the company has partnered with businesses of all sizes across industries. As an SAP partner, Ikyam offers a host of SAP services, including SAP Business One, SAP Business ByDesign ERP solution, SAP S/4HANA Enterprise Management, and more. Over 150 clients trust Ikyam for its services offerings and consultation. Deploying intelligent technologies, Ikyam Solutions adopts industry best practices to deliver a quality user experience.

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